7pc sales rise for Virgin cargo

Sales at Virgin Atlantic Cargo rose by seven per cent to £239.6m for the year to 29th February, the group’s annual results have revealed.

Steve Ridgway, chief executive of Virgin Atlantic, said: “I am extremely proud of the Virgin Atlantic Cargo team for delivering another great contribution to the airline in what is a very difficult and challenging market.”

Overall, Virgin Atlantic reported an operating loss for the year of £80.2m despite a three per cent rise in sales to £2.74bn.

Ridgway said: “In an incredibly challenging market, we have managed to grow top line revenues and fly more customers than last year. However, with the prevailing uncertainty in the economy, sky high fuel prices and a 25 per cent hike in our air passenger duty fees, converting this sales growth into profit has not been possible.”